Tesla (TSLA) - Get Tesla Inc Report just got a vote of confidence from the car-buying-research firm Edmunds, which named the Model 3 the top-rated luxury electric vehicle and gave it high marks for driving, comfort and utility.
Tesla shares at last check were up 1.6% to $354.57. Edmunds has an overall 8.4 out of 10 rating on the vehicle.
“The Model 3 is roughly the same length as a Mercedes-Benz (DDAIF) C-Class, but it makes excellent use of its dimensions and feels roomier than many of its competitors," the Santa Monica, Calif., firm wrote.
"Its trunk is also massive, and the lack of an engine means there's a front trunk as well."
Performance-wise, Edmunds said the Model 3’s strengths include tight steering, poised handling and instant acceleration that “make it a thrill to drive.”
One of the issues Edmunds did have with the vehicle is that it does not support Apple CarPlay (AAPL) - Get Apple Inc. Report or Android Auto (GOOGL) - Get Alphabet Inc. Class A Report on its platform.
Instead, the vehicle is controlled through the central touch screen. This requires drivers to divert their attention from the road for mundane tasks, like changing wiper speed, that are handled better on other platforms.
Otherwise, Edmunds sees the Model 3 as the best pick in the EV space.
“You also have more choices than ever. The Chevrolet (GM) - Get General Motors Company Report Bolt and the Hyundai (HYMTF.PK) Kona EV, in particular, stand out for their 230-plus-mile ranges and more affordable pricing," Edmunds said in its report.
"Yet the Model 3 has such a wealth of advantages that it warrants serious consideration for electric-car shoppers or even people just wanting a premium small sedan, electric or not."